Revvity, Inc. (NYSE:RVTY) Declares $0.07 Quarterly Dividend

Revvity, Inc. (NYSE:RVTY) declared a quarterly dividend on Thursday, January 25th, RTT News reports. Stockholders of record on Friday, April 19th will be paid a dividend of 0.07 per share on Friday, May 10th. This represents a $0.28 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, April 18th.

Revvity has a dividend payout ratio of 5.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Revvity to earn $5.18 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 5.4%.

Revvity Stock Performance

Shares of RVTY opened at $102.33 on Tuesday. The stock has a 50-day moving average of $105.04 and a 200-day moving average of $101.79. Revvity has a one year low of $79.50 and a one year high of $137.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77. The company has a market cap of $12.64 billion, a PE ratio of 18.61, a P/E/G ratio of 2.69 and a beta of 1.09.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The firm had revenue of $695.90 million during the quarter. On average, equities research analysts predict that Revvity will post 4.65 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the transaction, the insider now directly owns 92,801 shares in the company, valued at approximately $9,677,288.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

Institutional Trading of Revvity

A number of large investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new stake in Revvity in the fourth quarter valued at approximately $92,306,000. Goldman Sachs Group Inc. bought a new position in shares of Revvity in the 4th quarter worth $45,453,000. Nuveen Asset Management LLC purchased a new position in shares of Revvity during the fourth quarter valued at approximately $30,085,000. Barclays PLC purchased a new stake in Revvity in the fourth quarter worth $26,839,000. Finally, First Trust Advisors LP purchased a new position in Revvity during the 4th quarter valued at $21,675,000. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the subject of a number of research analyst reports. Barclays increased their price target on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Evercore ISI raised shares of Revvity from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $88.00 to $125.00 in a report on Thursday, January 4th. Stifel Nicolaus raised their price objective on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. KeyCorp lifted their price objective on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company began coverage on shares of Revvity in a research report on Tuesday, December 19th. They set an “equal weight” rating and a $95.00 target price for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.